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TheStreet Open House

Socket Mobile CEO Discusses Q3 2010 Results - Earnings Call Transcript

Socket Mobile, Inc. ( SCKT)

Q3 2010 Earnings Conference Call

October 27, 2010 5 PM ET

Executives

Jim Byers

Kevin Mills

Dave Dunlap

Analysts

Paul Bernstein [ph] – Black Diamond

Sue Fidel [ph] – Private Investor

Steve Swanson [ph] – Private Investor

Presentation

Operator

Greetings and welcome to the Socket Mobile Third Quarter 2010 Management Conference Call. (Operator instructions)

It is now my pleasure to introduce your host, Jim Byers, MKR Group. Thank you, Mr. Byers, you may begin.


Jim Byers

Thank you, operator. Good afternoon and welcome to Socket’s conference call to review financial results for its 2010 third quarter and nine months ended September 30 th, 2010. Online today are Kevin Mills, President and CEO of Socket; and Dave Dunlap, CFO of Socket.

Socket Mobile distributed its earnings release over the wire service at the close of the market today. The release has also been posted on Socket’s website at www.socketmobile.com. In addition, a replay of today’s call will be available at vcall.com shortly after the call’s completion, and a transcript of this call will be posted on the Socket website within a few days.

We have also posted replay numbers in today’s press release for those wishing to replay this call by phone. The phone replays will be available for one week.

Before we begin, I would like to remind everyone that this conference call may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934 as amended. Such forward-looking statements include, but are not limited to, statements regarding mobile computer, data collection and OEM products, including details on timing, distribution and market acceptance of products, and statements predicting trends, sales and market conditions and opportunities in the markets in which we sell our products.

Such statements involve risks and uncertainties and actual results could differ materially from the results anticipated in such forward-looking statements as a result of a number of factors, including, but not limited to, the risk that our new products may be delayed or not rolled out as predicted, if ever, due to technological, market, or financial factors, including the availability of necessary working capital; the risk that market acceptance and sales opportunities may not happen as anticipated; the risk that our application partners and current distribution channels may choose not to distribute the products or may not be successful in doing so; the risk that acceptance of our products in vertical application markets may not happen as anticipated; and other risks described in our most recent Form 10-K and 10-Q reports filed with the Securities and Exchange Commission. Socket does not undertake any obligation to update any forward-looking statements.

With that said, I would now like to turn the call over to Socket’s CEO, Kevin Mills.

Kevin Mills

Thanks, Jim, and thank you for joining us today. Our third quarter revenue of $3.4 million reflects record quarterly sales of our SoMo handheld computer along with improve sales of our cordless scanning products, offset by reduced sales in our legacy businesses.

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